MO-C: Missouri Dividends Deduction Schedule (2024)
Missouri · Missouri DOR · Used for tax years 2024
Form MO-C is Missouri’s 2024 Dividends Deduction Schedule for corporations. It reports federal dividends, dividends received from Missouri sources, and eligible deductions, and calculates the amount to enter on Form MO-1120, Line 10.
Who files this form
Complete the 2024 Form MO-C when computing Missouri dividends allowed as a deduction under Section 143.431.2, RSMo.
What you'll need
Have these forms and details available to complete the schedule:
- Federal Schedule C, for the dividend amounts entered in Column A.
- Missouri-source dividend amounts, including each payor's corporation name and dividend amount.
- Form MO-NAI, for nonapportionable dividends and nonapportionable Missouri-allocated dividends.
- Form MO-MS, Part 1, Line 3, for the apportionment factor.
- Form MO-1120, where you enter the final deduction on Line 10.
- The corporation's name, taxable-year beginning and ending dates, Missouri Tax I.D. Number, Federal Employer I.D. Number, and charter number.
The schedule also refers to federal instructions and to the Form MO-1120 instructions regarding REIT and RIC dividends.
How to file
Complete the schedule as follows:
- Enter federal Schedule C dividend amounts in Column A and Missouri-source dividend amounts in Column B. For Column D, multiply Column B by Column C.
- Total Column B, Lines 1 through 19, on Line 22. Total Column D, Lines 1 through 21, on Line 23.
- Subtract Line 23 from Line 22 to get net eligible dividends on Line 24.
- Enter nonapportionable dividends from Form MO-NAI on Line 25. Subtract Line 25 from Line 24 and enter the result on Line 26.
- Enter the apportionment factor from Form MO-MS, Part 1, Line 3, on Line 27. Multiply Line 26 by Line 27 and enter the result on Line 28.
- Enter nonapportionable Missouri-allocated dividends from Form MO-NAI on Line 29. Add Lines 28 and 29, and enter the total on Line 30 and Form MO-1120, Line 10.
- List the sources of Missouri dividends, including payor corporation names and dividend amounts.
The form lists this mailing address:
Taxation Division
P.O. Box 3365
Jefferson City, MO 65105-3365
Common mistakes
- Do not include debt-financed stock dividends on Lines 1 or 2. The schedule lists those dividends separately on Line 3.
- Exclude hybrid dividends from Line 12 and the portion attributable to FDII from the Section 250 deduction on Line 21.
- Consult the Form MO-1120 instructions regarding REIT and RIC dividends for Line 19.
- Remember to list the sources of Missouri dividends and carry the Line 30 total to Form MO-1120, Line 10.
Questions people ask
What is Form MO-C used for?
It is used to compute Missouri dividends allowed as a deduction under Section 143.431.2, RSMo.
What is the difference between Columns A and B?
Column A contains dividend amounts entered on federal Schedule C. Column B contains dividends received from Missouri sources.
Where do I get the apportionment factor?
Use the factor from Form MO-MS, Part 1, Line 3, and enter it on Form MO-C, Line 27.
Where does the final amount go?
Add Lines 28 and 29. Enter the total on Form MO-C, Line 30, and Form MO-1120, Line 10.
How can I contact the Taxation Division?
The form lists phone number (573) 751-4541 and email address corporate@dor.mo.gov.